AUD/JPY 4H Chart: Rising Wedge

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Aussie continue to climb further versus other major currencies, and even though there was a chance of a downtrend against the Japanese Yen, the continuation of the uptrend movement is expected. Whereas there has been a number of attempts to penetrate the support line, strong market sentiment (71%), technical indicators on a weekly chart and a bunch of support lines are all reinforcing a view the pair would continue appreciating. In case the pair penetrates the recent high and weekly resistance and 94.076, a October's high would be put on the map. Meanwhile, traders' attitude towards Aussie remains strongly bullish as well (bought in 73% of all cases).
© Dukascopy Bank SA
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